Court Approves J.L. French's Reorganization Plan

Law360, New York (June 21, 2006, 12:00 AM EDT) -- A federal bankruptcy court has approved J.L. French Automotive Castings Inc.’s plan of reorganization, giving the bankrupt auto parts maker a green light to emerge from Chapter 11 on June 30.

The plan includes a $130 million rights offering and $255 million in exit financing furnished by Goldman Sachs Credit Partners L.P. and Morgan Stanley Senior Funding Inc. The two lenders beat out General Electric Capital Corp., Ableco Finance LLC and Banc of America Securities LLC, which were also vying to provide the exit facility....
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